24/7 Cryptocurrency News

Coinbase Scores New Win In SEC FOIA Case As Court Threatens Sanction

Coinbase is expected documents in its FOIA case with the US SEC as Court slammed the markets regulator for delay tactics
Published by
Coinbase Scores New Win In SEC FOIA Case As Court Threatens Sanction

Highlights

  • Coinbase has secured another legal victory over the US SEC in its FOIA case
  • The Court requested the SEC to adhere to the April 11 extension deadline to produce needed documents
  • Under Mark Uyeda, the US SEC has taken a more pro-crypto stance, but will this change the FOIA demands?

American digital currency trading platform Coinbase Global Inc. has recorded a minor victory in its Freedom of Information Act (FOIA) case with the US Securities and Exchange Commission (SEC). In an order signed by Judge Ana C. Reyes, the Court sided with Coinbase, asking the regulator to comply with an already established deadline.

Advertisement

Latest Coinbase Victory Over US SEC

According to the X update from Coinbase CLO Paul Grewal, Judge Ana denied the regulator’s demand to dismiss the FOIA case. The Judge also refused to grant a further extension in the timeline required to respond to the FOIA requests.

According to an excerpt of the judgment, the Court noted that it had granted a series of leniencies regarding this case. These allowances include the 3-week extension granted in January this year. 

The Judge flagged the subtle strategy of the US SEC as it produced only eight documents when it finally complied with some of the court orders. To address this, Judge Reyes said it might resort to sanctions if the regulator fails to meet the next deadline set for April 11.

As Paul Grewal noted, the Coinbase team has been meeting with the new SEC leadership. He noted that the public will soon gain insight into the regulators’ crackdown efforts.

Advertisement

What is Coinbase Exchange Really After?

Per an earlier CoinGape report, Coinbase filed to access information on the agency’s crypto crackdown efforts during Gary Gensler’s tenure.

The crypto exchange was looking for key documents targeting Ethereum following its transition to Proof of Stake (PoS). Considering the contentions around Ethereum’s classification as a commodity while other assets were targeted, the exchange sought communications regarding this.

The crypto exchange also sought to see the documents from the regulatory efforts directed to the Ethereum 2.0 investigation, as well as information on how much the SEC spent on its crypto litigation, the number of staff hours, and related details.

With the FOIA demands, the trading platform pushes for transparency and accountability with the regulator.

The US SEC Regulatory Shift

While the Mark Uyeda-led commission is bearing the brunt of the Gary Gensler crackdowns in the industry. Since his temporary appointment as Chairman on January 20, Uyeda has changed the direction of the markets regulator.

The SEC is now exploring industry collaboration rather than an enforcement strategy. As a show of goodwill, the commission has closed its case against the exchange and other firms operating in the crypto industry.

Whether or not this positive pivot from the commission will sway Coinbase in the FOIA case remains unknown.

Advertisement

Share
Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

ASTER Deposits Flows Into Binance Wallets Following CZ Endorsement, Listing Incoming?

In a fresh development, multiple ASTER tokens have been sent to Binance spot wallets, following…

October 2, 2025
  • 24/7 Cryptocurrency News

Avalanche Treasury Seals $675M Deal With Mountain Lake to Build $1B AVAX Vehicle

Avalanche Treasury Co., in partnership with Mountain Lake Acquisition Corp., has unveiled a $675 million…

October 2, 2025
  • 24/7 Cryptocurrency News

Just In: Nasdaq-Listed VivoPower Raises $19M in Equity to Expand XRP Treasury Holdings

Nasdaq-listed VivoPower has stepped up its digital treasury goals with a fresh capital raise aimed…

October 2, 2025
  • 24/7 Cryptocurrency News

Solana Price Rallies 5% as Nasdaq-listed VisionSys Launches $2B SOL Treasury Strategy

Solana increased in price by 5% to approximately $219 following a $2 billion Solana treasury…

October 2, 2025
  • 24/7 Cryptocurrency News

XRP Ledger Rolls Out MPT Standard for Real-World Asset Tokenization

The XRP Ledger (XRPL) has launched the Multi-Purpose Token (MPT) standard, designed to simplify and…

October 1, 2025
  • 24/7 Cryptocurrency News

SEC Puts Crypto ETF Approvals On Hold Following U.S. Government Shutdown

The U.S. Securities and Exchange Commission has announced plans to streamline its operations amid the…

October 1, 2025